Aug 13 – Chinaccelerator Daily Digest: Five Headlines You Need to Know

1 Huawei, Kunlun and China’s tech giants drive a quiet revolution in Africa’s fintech with mobile payment apps and wallets. Africa’s big mobile wallets M-Pesa, established by Kenyan phone company Safaricom, uses Huawei’s enterprise solution. SCMP

2 TikTok announced stricter privacy controls to protect 13-17 year old teenagers from hidden advertising and inappropriate content. New users aged 16 to 17 will have their Direct Message setting be set to “No One” by default. TechCrunch

3 China technology policy change: Beijing is set to roll back tax incentives for software companies in favor of hard tech R&D. First move is to levy higher tax on internet companies and tighten qualification standard for ‘key software enterprises’ to reduce chances for tax reduction. SCMP

4 China Mobile profit rises 6% year on year due to robust growth in 5G users for the first half of 2021. This large state-owned telecommunications company acquired 3.6 million new users in the first half, bouncing back from the last year when it lost 8 million subscribers as China allowed users to switch carriers with their old phone numbers. Technode

5 Evergrande Group attempts to sell stakes in its electrical vehicle (EV) startup and in property services units to pay its debt and improve its financial condition. Evergrande statement in Chinese. Meanwhile, Chinese premium EV maker Nio, reported revenue of $1.31 billion for 2021 Q2, up 127% from a year ago, and narrowed its net loss by half to $90.6 million. Nio statement


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